The Korea Technology Finance Corporation (KOTEC) announced on the 24th that it held the "16th KOTEC Venture Camp Integrated Demo Day" at the Tipstown in Gangnam-gu, Seoul, to provide startup investment attraction opportunities and real-world initial public offering experience.
The KOTEC Venture Camp is a program designed to discover and nurture innovative startups that have been established within three years of founding, in line with the Ministry of SMEs and Startups' "Domestic Startup Ecosystem Activation Policy."
KOTEC has been working with private accelerators such as CNT Tech, Dare Strategy Commercialization Center, Series Ventures, Zephyrus Lab, and Tap Angel Partners to foster innovative startups into star venture corporations.
This Demo Day featured various investors, including 75 innovative startups selected for the 16th KOTEC Venture Camp, as well as investors from accelerators and venture capital firms. Ten outstanding startups promoted their individual corporations and created investment attraction opportunities.
KOTEC supports participating corporations in the KOTEC Venture Camp with up to 200 million won in guarantee support regardless of revenue performance, a guarantee limit of up to 1.5 billion won for the top 25% of outstanding participating corporations, accelerations including preliminary diagnosis, mentoring, and network support, non-financial support such as technology transfer, consulting, and innovative corporation certifications, as well as continuous support for recommended guarantee-linked investment target corporations and private investment attraction.
"This KOTEC Venture Camp has laid the foundation for 75 technology-based innovative startups to leap into global unicorn companies," said Lee Sang-chang, a KOTEC director. "KOTEC will continue to support their ongoing growth and become a partner for innovative startups."